The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1887-04-01
7 H E
Pacific Commercial Advertiser
FRIDAY
NEW ZEALAND AND THE ISLANDS
TRADE.

The Auckland Chamber of Comm cree
adopted the following resolution at re-
cent meeting OF that body:
That in view of giving facilities for
the island trade, we would recommend
that charter of incorporation be granted
to a company to be formed for the pur-
pose of trading with the South Sea Islands,
and that the Government be asked for a
guarantee, and with due provision being
made for purchasing the interests of those
now engaged in the trade.
This is no new idea. Over dozen
wears ago a similar scheme was outlined
by Sir julius Vogel, then premier OF the
Colony, in very able memorandum to
the Governor, Sir James Ferguson, now
Parliamentary Secretary for Foreign At
fairs in England. Sir James Ferguson
strongly Endorsed the views of his Minis
ter, and subsequently at the Royal Colo
NAL Institute he made strong speech i'll
support OF the far-seeing and compre-
hensive policy of commercial and politi-
cal development in the South Seas
enunciated by Sir julius, then
Mr.. Vogel. But Imperial indifftr-
ence, if not positive hostility
to any idea suggestive OF increased re-
sponsibility in the Pacific, and the blind
ness of local political rivalry, caused the
project to be abandoned. 1t is now re-
vived at time when the conditions are
far less favorable for the success of such
a scheme but that it is still entirely feast
BILE. from the much stronger and broader
base of operations New Zealand at this
time offers, we have no d Oubt whatever.
The original proposal was to incoI-
porate a commercial company with
capital of Ell 900, 900 ($5, 900, OO0>, to con-
troll and develop the commerce of the
South Sea Islands. The Government
was to guarantee per cent for fifty
years. All the produce purchased by
the company was to be brought to New
Zealand, where factories were to be
built to utilize it, the surplus being eX
ported. Steamers were to be built by
the company to develop the Islands
trade, and New Zealand produce was to
be shipped to exchange for tropical pro-
duce. A royalty of IL per cent was to
be paid on any other goods used in
trade. The Government, by virtue Of
It's guarantee and for reasons of public
policy, was to appoint G eneral managers
in England and the Colony to protect
public interests, and to see that the en-
terprise did not become purely specula-
tive or lead to abuses. If that plan had
been carried out New Zealand ould to-
day have absolute control of Polynesian
trade, and annexation projects by any
of the Powers would be out of the ques-
ton.
As we have already sag, the plan was
not carried out on the original lines, but
Il few yearsSgo the New Zealand Parlia-
nlent Subsidized steamship service,
which has shown on a small scale what
might have been accomplished on a
large one. Private enterprise, without
anv great capital, backed by moderate
subsidy, has concentrated a very consid-
cradle portion of South Sea Island trlf-
fic at Auckland, which is the natural de-
pot and distributing point for that trade.
This subsidy, we fancy, has either ex-
pired or will lapse at the end OF the cur
rent fiscal year, and the action of the
Auckland Chamber of Commerce is in
tended to prevent suspension of this
steamship subsidy.
The proposal is one which will doubt
less be indorsed by the New Zealand
Parliament A guaranteed interest for a
term of years upon a capital sum OF
60, OOO, 900 CSC ,0OO, o0O), which we un-
derstapd is the financial basis OF the pro-
jected enterprise, would at once put it on
a footing of assured success. This is
what should be done if the enterprise
is to be touched at ali. And we greatly
misjudge the men who are now at the
head of affairs in New Zealand if they
will hesitate in making this minister
ial proposal. Great States have been
more rapidly built by commercial de-
velopment than by territorial acquisi-
ton. Samoa sent depatation recently
to New Zealand asking that it might be
incorporated in that colony This re-
quest could not be complied with, but
The next best thing was done-regular